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Both the government and private owners makes economic decisions because the government has control over certain important industries, such as Eskom, while private owners control other important industries.

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Who possesses the factors of production in south Africa economy?

In South Africa, the factors of production—land, labor, capital, and entrepreneurship—are possessed by a mix of private individuals, corporations, and the government. The private sector, including both local and foreign businesses, plays a significant role in owning land and capital, while the government also owns substantial resources and enterprises. Labor is provided by the workforce, which comprises a diverse population with varying skills and qualifications. Overall, the economy is characterized by a combination of private ownership and public enterprises, influenced by historical and socio-economic factors.


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